Network-Attached Storage (NAS) Market

Market Leader - Network-Attached Storage (NAS) Market

Network-attached storage (NAS) is a dedicated storage device with multiple racks of storage media and is set up onto a dedicated network for storing the data. NAS devices are connected directly to the network and can give access to multiple authentic users. The NAS market was valued at USD 12.78 Billion in 2016 and is expected to reach USD 45.21 Billion by 2023, at a CAGR of 20.1% between 2017 and 2023. Increasing dependence on digital content being stored in the cloud environment by small and mid-sized businesses (SMBs), the proliferation of social media content along with high-speed data transfer technologies such as 4G & 5G and the need for a large amount of secure data storage devices for video surveillance application are the major driving factors for the growth of the NAS market.

The NAS market is in its growth stage with a moderate number of global and local market players. Product launch is one of the most prominent growth strategies followed by the players in the NAS market. Moreover, technological innovation and inorganic growth are also the major growth strategies followed by the companies involved in the market. The key players following these as their key growth strategies are Dell EMC (US), NetApp (US), Hewlett-Packard Enterprise Company (US), Hitachi Data Systems (US), and Western Digital Technologies (US).

Dell, Inc. (US) is an important player in the NAS market. In 2016, Dell EMC (US) was ranked first in the global NAS market and is continually involved in the development and launch of the NAS system. The company is focused on the development of products for this industry. It caters to various organizations operating in different industry verticals such as banks and other leading financial services firms, manufacturers, healthcare, life sciences organizations, Internet service and telecommunications providers, airlines transportation companies, educational institutions, and public-sector agencies. It also focuses on inorganic growth strategies. For instance, in September 2016, Dell Technologies announced the acquisition of EMC Corporation. With this acquisition, Dell Technologies have strengthened its position in the storage market.

NetApp, Inc. (US) is among the key players involved in the development of NAS products and also acts as a major ODM. NetApp, Inc. (US) has a strong market share in the NAS market. The company provides products and architectures such as flash hybrid cloud, converged infrastructure, and software-defined storage. The company has created the world’s first networked storage appliance and offers a portfolio of products and services including hybrid, enterprise all-flash, and cloud storages. The company is also a front runner for adopting inorganic growth strategies. For instance, in February 2016, NetApp, Inc. (US) acquired SolidFire, Inc. (US), an all-flash storage array maker start-up. The company incorporates SolidFire products in its data fabric strategy to deliver next-generation data management.

Related Reports:

Network-Attached Storage (NAS) Market by Storage Solution (Scale-up, Scale-out), Deployment Type (On-Premise, Remote, Hybrid), End-User Industry (BFSI, Telecommunications & ITeS, Consumer Goods & Retail), and Geography - Global Forecast to 2023

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Report Code
SE 5393
Published ON
Jul, 2017
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